NonQM · Debt Service Coverage Ratio

Debt Service Coverage
Ratio (DSCR)

A loan for real estate investors that qualifies based on rental income. No W-2s, tax returns, or personal income verification required. Available through Express DSCR and Ignite DSCR.

660 Min FICO
80% Max LTV
$4M Max Loan
.75 Min DSCR
Non TRID — Close Fast!
Gift Funds Allowed
Purchase & R/T to 80% LTV
Charge Origination & Receive YSP
DSCR Down to .75 with 680 FICO®
Cash Out Can Be Used for Reserves
Vacant Properties on Refinances
IO Loans Qualify Using IO Payment
Originate Without State License*
30 & 40 Yr Fixed I/O Available
Unlimited Cash In Hand ≤60%
1×30×12 on a Mortgage Allowed

*Express DSCR business-purpose loans only · Available in 32 states

Guideline Updates
—Cash-Out LTV expanded to 75%
—Increased LTVs in $1.5MM–$2MM buckets
—Minimum loan reduced to $100,000
—Rural properties eligible — Purchase, R/T & Cash-Out
—Condos & 2–4 units: all refis to 75% LTV
—Reserves cut to 3 months on loans ≤$500K
—Code 120: appraised value after 6 mo. seasoning (DSCR ≥1.00)
—IPC increased to 6% on purchases
—LLC closings: 50% ownership by signing members accepted
NonQM DSCR · New Product

Ignite DSCRZero DSCR Required

Qualify with no rental income history — perfect for new acquisitions and investors who can’t wait for seasoning.

No DSCR Floor Up to 80% LTV 680+ FICO Up to $2.5M
No License Required

Available in 32 States

Originate business purpose DSCR mortgages without a state-specific license. Hover any highlighted state.

No license required License required
32 Eligible States
  • Alabama
  • Colorado
  • Connecticut
  • Delaware
  • D.C.
  • Florida
  • Georgia
  • Hawaii
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • Ohio
  • Oklahoma
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
Resources

Program Guidelines & Matrices

NONQM DSCR
CALCULATOR
DSCR Calculation Worksheet
Nations Direct Mortgage  ·  NonQM DSCR Desk
I. LOAN DETAILS
Loan Amount
$300,000
Note Rate
7.000%
Loan Term
360mo
Interest Only?
NoYes
II. MONTHLY EXPENSES
Property Taxes
$450
Homeowners Ins.
$100
HOA
$0
Flood Insurance
$0
DSCR RESULT
1.18
BORDERLINE
P&I Payment$1,996
Taxes$450
Homeowners Ins.$100
Total PITIA$2,546
Monthly Rent$3,000
Calculator · Interactive
DSCR Calculation Worksheet
P&I, IO payment, total PITIA, and DSCR auto-calculate as you type.
Open Calculator
DSCR Licensing Certification Form
Form · PDF
DSCR Licensing Certification Form
Broker certification required for DSCR loan submissions through Nations Direct Mortgage.
View Form
DSCR Program Matrix
Matrix · PDF
DSCR Program Matrix
Full rate matrix with DSCR tiers, LTV limits, loan amounts, and FICO requirements.
View Matrix
Express DSCR Units+ preview
Matrix · PDF
Express DSCR Units+
5–8 unit residential. DSCR ≥ 1.00. LTV limits by FICO and loan amount.
View Matrix
DSCR
PROGRAM MATRIX
DSCR LICENSING
CERTIFICATION FORM
NONQM DSCR CALCULATOR
DSCR Calculation Worksheet
Nations Direct Mortgage  ·  NonQM DSCR Desk
For illustrative purposes only
I. LOAN DETAILS
II. MONTHLY EXPENSES
III. RENTAL INCOME
DSCR RESULT
—
P&I Payment —
Taxes —
Homeowners Ins. —
HOA —
Flood Insurance —
Total PITIA —
Monthly Rent —

For illustrative purposes only. Not a credit decision or offer of credit. Results may vary.